Cost Of Living Dubai

Thanks to an increase in economic growth throughout the United Arab Emirates, and the continuing freehold property boom, Dubai is facing an increase in the costs of living.  With all this being said, Dubai is still a competitively priced place to live, and the biggest real drain on resident incomes is accommodation.

While shopping and other general living costs are lower than you would expect to find in most of Europe, the property boom and the excess demand for property has resulted in prices accelerating at an alarming rate.

The high prices of property in Dubai have encouraged more and more residents to buy property, instead of paying the earth in rental costs without actually acquiring ownership.  With so many freehold property projects now on the market, there are properties to suit everyone, and they vary in space, location and standard of luxury.  Obviously, the most luxurious properties are the most expensive, but many property buyers will find that there are still a fair few property developments that are worth your interest.

For property buyers that want to find a property that is value for money, buying a freehold apartment is the best option.  As there is a shortage of villas available on the Dubai property market that are finished, house prices are particularly expensive and only available on the most expensive property developments at this point in time.  While more and more affordable villas are being released for sale, such as in Jumeirah Village and Jumeirah Park, these will not be finished for a while.  For apartments, there is a huge choice of apartments depending on your budget, and one of the most popular developments to buy within if the costs of living are hurting you is International City.  With a good location, affordability and good quality, this is a property that appeals to the average Dubai resident.  There are also good buys at The Greens and some of the future developments on the way, but only time will tell if the cost of living will change significantly as more and more property developments are completed.

For more information on freehold properties or the cost of living Dubai, visit propertyportal.ae for an extensive list of properties for sale at competitive prices, or contact our property agents who are waiting to deal with your enquiries.